By : M.S.Yatnatti: Editor and Video Journalist Bengaluru : Create a startup and be your own boss .Let it be small or big be your own boss .A small seed can become big tree .You have to have passion commitment and good idea good networking skills .A start up need to have a well documented business plan investment strategy and including exit options to angel investors in the start itself aslater problem should noy crop up with founders. You should have good product and it should be in need and it should have better feature than other products. what is not working discontinue it .Scale it as demand grows .Do not ignore Marketing .Growth capital is very important but do not over raise the finance and hire good talent as an when it is required .Do not over pay as it will be very difficult to manage the start up.Time is everything .Be different find right investors and venture capitalists and not vulture capitalists. Raise money intelligently find the right people be sure and flexible .Do not ignore open source technology. Well documented code of conduct is very important for every employee.and directors of the startup. Well defined Information technology is one of the biggest mass employers. Be different startup .Find unsolved problems of customers and solve it, everybody has problems. Many have many problems .Few problems are universal. Few problems are local few are national and few are international .Find unsolved problems. Companies succeed because they solve and understand the unsolved problem and come up with solutions that are very different from what others do. Put yourself in the customer's position; perhaps you would have experienced a pain point yourself. You may not fully understand the difficulty unless you experience it yourself .Develop deep customer insights. Secret of your success is in Passion, determination, vision, agility, team play, fund-raising skills.What exactly defines the DNA of a booming startup? What do some of the biggest names in the investment community look for in startups and entrepreneurs Clarity of vision Domain expertise? What key factors do successful entrepreneurs attribute to their triumph? Need to be understood diligently. IT major Infosys has reportedly increased the salary of its top executives but the base scale for entry-level software engineers has not changed for more than five years.The company started its higher salaries' package to newly-appointed CEO Vishal Sikka who will get Rs 30 crore ($5.08 mn) annual pay package when compared to $23,000 (Rs 14 lakh) taken by his predecessor S D Shibulal.Infosys pays around Rs 23-27,000 for entry-level software engineers with BE and Rs 12-15,000 for entry-level BSc freshers, according to sources. According to experts, starting salaries offered by other IT companies are in the same range. Information technology is one of the most important mass employer in the country today providing significant valueaddition and employment creation.
Many venture capitalist look for startups addressing larger customer base scaling up large, interesting markets. It's important not only that startups succeed, but that the the co sequences of that success are large. Startup investment is based on the premise that you the premise that you can make hundred times your money, and that's not possible if the markets are small. Venture funds look for really good entrepreneurs, those who can be agile. Since venture fundsfocus on startups doing things that have generally not been done before, it's really important that entrepreneurs are agile; they can change plans rapidly, come up with new ideas, zig and zag wherever the road leads to. Some people are too traditional and they only do what they have done before, and those don't make good. venture fundslook for really good technologists and at technical breakthroughs.( venture fundslook at) those that cause disruption and give the startup an advantage. I see too many people in the investment world chase what is successful. If Amazon is successful, you will have a lot of people trying to chase ecommerce. I found not enough people were doing startups for the bottom 3 billion people on the planet. I understand why people don't do it; it's because the bottom 3 billion people don't have much money.But I thought that was an opportunity because there is not much competition there, and it also makes venture fundsfeel better. It's a personal indulgence. When you look at the bottom 3 billion people, almost everything is a problem.Determination and Perseverance: That's the main trait of top founders of successful ventures have in common. Airbnb launched something like five times before taking off, and at one point, the founders had maxed out at leastcredit cards and were selling collectible cereal boxes to stay afloat. Adora Cheung, founder of Homejoy , pivoted through 13 ideas before hitting the right one; she even slept in her car for a while. Just last year Homejoy raised over $38 million. Their key is to be a cockroach to keep going no matter what. Keep your burn low, talk to users, and just keep building. Intelligence Leadership
Listening skills: Of all the skills, listeningand collecting data might be the most important. Study the failures and success of all ventures and adopt the best to succed. You need sharp antenna to maneuver fast-changing markets. Every business continues to pivot. Data is not a big secret and you need to do research. How you synthesize data drives the decision. Listening doesn't mean you do what someone tells you to. It means that you are a good collector of data from many sources and you use this to arrive at a decision quickly. It's like solving a jigsaw puzzle. Commitment: It is a long road. How likely are you to stick with ups and downs! Leadership: Can you create and inspire a team that wants to follow you and accept your lead. Integrity: Cutting corners cannot offer a long-term value creation.